Dow 11,509.09 +75.91
Nasdaq 2,622.31 +15.24
SP500 1,216.01 +6.90. Consider shorting at 1230.
30-yrBond 3.34% -0.01
This week, the Federal Reserve, European Central Bank, Swiss National Bank and Bank of England acted together to provide liquidity to European banks to keep the banks from collapsing. The USA's private central bank known as the Federal Reserve is making 1/2 TRILLION dollars in loans available. This is significantly beyond the prudent and safe mandate of "the Fed", which has become a blatant manipulator to support the insolvent banks. While European bank troubles are much larger than the troubles that brought down Lehman Brothers in 2008, no amount of manipulation will fix the problems. It is time to end the Fed!
In a positive development for gold bulls, gold closed above the middle of the trendlines (~1780). Weekly close above 1800 is good for gold bulls. Fundamentally, it appears the precious metal pullback this week was caused by banks lending gold in a scramble to get dollars and liquidity.
Austria restricted gold purchases by individuals.
GLD 176.03 +1.63
SLV 39.39 +0.60
PTM 21.02 +0.18
XLE 67.09 -0.41
XLF 12.90 -0.01
VXX 41.55 -0.83
BAC 7.23 -0.10
C 28.99 +0.40
MXWL 18.50 -0.05. Maxwell Technologies Inc. 52 week range 12.77 - 19.65. Capacitor energy storage technology going into hybrid cars. Long term buy.
NFLX 155.19 -14.06. Broken stock.
RIMM 23.93 -5.61. Potential short if it bounces.
SVM 7.02 +0
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